Putnam Short Duration Bond R6

The fund maintains a broad and varied allocation across the fixed income market. Its holdings are permitted to include corporate debt, encompassing both highly-rated (investment-grade) and speculative-grade (below-investment-grade) issues, as well as bank loans and structured credit arrangements. The portfolio also seeks exposure to government bonds, originating from both established and growing global economies. Additionally, it may feature securitized products such as asset-backed securities, residential mortgage-backed securities, commercial mortgage-backed securities, and collateralized mortgage obligations.